Issue - meetings

Report by Interim Head of Financial Services

The Committee gave consideration to a report seeking Member’s endorsement of the proposed Treasury Management Strategy Statement and Annual Investment Strategy.  The report also set out the policy for the repayment of loan fund advances for 2021-22.  Following concerns of Members on the reporting mechanism for the Treasury Management Strategy and Annual Investment Strategy, the Chief Financial Officer agreed to consider the reporting timetable going forward.  

Decision

The Audit and Scrutiny Committee:-

1.    endorsed the proposed Treasury Management Strategy Statement and Annual Investment Strategy and the indicators contained within;

2.    noted the continued use of the asset life method for the repayment of loan fund advances using a 5.1% annuity interest rate, with the exception of spend to save schemes where the funding/income profile method could be used;

3.    noted the proposed asset repayment periods as detailed within section 2.6 of the Treasury Management Strategy Statement; and

4.    noted the ability to continue to use countries with a sovereign rating of AA- and above, as recommended by Link Asset Services.

(Reference:  Report by Interim Head of Financial Services, dated 16 March 2021, submitted)